SAR #12286

Don't confuse the stock market with reality.

The Way We Were: The countries that make up the European Union were jointly awarded the Nobel Peace Prize for managing not to start a war between themselves for a long time. Things change.

Contemptorary thought: If you think the country is in dire straits because teachers make too much money or cops make too much money or welfare families have destroyed this country or subprime borrowers ruined the economy, and you do not understand that behind each of these “causes” are public and private institutions that repeatedly committed frauds that make those of the little people pale by comparison, then you are part of the problem.

Chiller: "Gasoline at $2 gallon is nice, but you better hope you're still getting a paycheck to buy it with."

If, Then... German think tanks say the German economy will grow by only 1% next year – and that only if the eurozone crisis does not deteriorate.

Being Prepared: Defense Secretary Panetta, waving his hands and conjuring up dire images of a digital Armageddon says Congress must indemnify the military for whatever steps it takes to “move aggressively against digital attacks”. He also wants “legal protections” for all the illegal things companies do in providing information to the Pentagon.

Meanwhile, In the Pantry: The USDA has again lowered its prediction for the corn crop, this time by 16%. Globally, corn stocks are at their lowest level in 39 years.

Relatively: We all know that Romney/Ryan intend to do significant damage to Medicare, but not so much attention gets paid to their plans to eradicate Medicaid. After all, only poor people get covered by Medicaid, so we the middle class don't pay much attention. But we should, because about 65% of Medicaid expenses go to paying senior citizens in nursing homes. Folks who worked all their lives and now don't have the $70,000 a year or more it takes – which Medicare does not cover. Folks like my dad. And you mom, how's she fixed for cash?

The Nugget: In an article describing Wall Street compensation as “reaching near-record levels” is this: “Pay isn’t always linked to performance.”

Proud To Be An Empirian: The US lobbed four drone missiles into the most backward part of Pakistan yesterday, killing 16 and wounding at least 6 – all undoubtedly 'militants'. Remember last month's Stanford/NYU study that found drone attacks to be “counterproductive”, not to mention certain difficulties with international law?

Priorities: The progressively devastating mass extinction now underway could be greatly reduced at a cost of about $80 billion a year. That's about half of the amount that bankers take home in bonuses each year. Guess what we're not going to do.

Going Nowhere: The Producer Price Index, after pretending that energy is optional, rose exactly 0.0% last month. Those producers who use energy – you know, electricity, diesel fuel, JP4, gasoline and all – saw prices pop up 1.1%, “more than expected.”

Don't Look Now: During a national security hearing called to bash the administration over its reporting on the Benghazi consulate attack, Republicans managed to identify the location and function of a secret CIA installation.

The Parting Shot:

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Sugar maples.